Powering America Myths vs. Facts in the US Energy and Global Warming Debates A Study for: World Wildlife Fund Tellus Institute Boston, . environmental regulations, and indefinitely postpone our obligation to protect the global climate – no matter the long-term impacts and costs. President. global warming later on. Indeed, had such demand-side efforts been underway sooner our current predicaments could have been avoided or lessened. Globally.. Today, the United States produces less than 12 percent of global oil supplies. Even with strenuous efforts by the Bush Administration.